Daily News

Source: Financialpost June 28, 2023

Amazon's Vancouver office building, second tower for sale by Canadian pension funds

Oxford Properties and CPPIB move offers first clues to sector's worth in remote work environment An Amazon.com Inc. office building in Vancouver, along with a neighbouring tower, are up for sale by two of Canada’s largest pension funds, accordi...

Source: Financialpost June 28, 2023

Homeowners abandon variable-rate mortgages for fixed-rate alternatives as interest rates rise

Rush away from variable-rate mortgages deepens for 13th consecutive month As interest rates continue their upward trajectory, an increasing number of Canadian homeowners are abandoning variable-rate mortgages in favour of fixed-rate alternative...

Source: Financialpost June 28, 2023

Posthaste: Canada's housing market is hot again — expect it to stay that way, economists say

Market will stay strong thanks to a number of economic factors, clipping affordability even more, Desjardins says We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos...

Economy Source: Financialpost June 28, 2023

Inflation slows to 3.4% in May

Inflation cooled significantly on lower gas prices After a brief uptick in April, inflation slowed in May due to lower gasoline prices and base-year effects, easing pressure on the Bank of Canada as it attempts to bring price growth back to its...

Source: BNN Bloomberg June 27, 2023

U.S. tech stocks slide as traders rein in rate cut bets

U.S. stocks fell while government bonds advanced as traders unwound bets the Federal Reserve will cut interest rates this year. The Nasdaq 100 dropped 1.4 per cent Monday, sliding for a second day after suffering its worst week since March. Profit taking i...

Market Call Source: BNN Bloomberg June 27, 2023

Keith Richards' Top Picks: June 26, 2023

Keith Richards, president and chief portfolio manager, ValueTrend Wealth Management FOCUS: Technical analysis MARKET OUTLOOK: The U.S. market is in a yin-yang situation. On the positive side, a technical breakout on the S&P 500 (SPX) and the Nasdaq...

Source: BNN Bloomberg June 27, 2023

Banks poised to withstand rising mortgage debt: Equity analyst

As higher borrowing costs drive up mortgage debt, one analyst said most of the risks for banks lie in renewals and Canadian lenders have a few years to prepare.  Paul Gulberg, a senior equity analyst at Bloomberg Intelligence, said in a Monday interview wi...

Source: BNN Bloomberg June 27, 2023

TSX today: Index up on energy strength

Strength in energy stocks helped Canada's main stock index gain more than 100 points in late-morning trading, while U.S. stock markets were in the red. The S&P/TSX Composite Index was up 155.87 points, or 0.8 per cent, at 19,574.10. In New York, the Dow...

Company News Source: BNN Bloomberg June 27, 2023

Canopy Growth gets zero price target on 'desperation' signs

Canopy Growth Corp. shares were under pressure for a second day as analysts questioned whether the Canadian cannabis grower could reduce it cash burn and turnaround operations. Benchmark slashed its price target on the firm to zero. The stock has dropped 7...

Source: Financialpost June 27, 2023

Shopify to fight CRA request for 6 years of merchant tax records: CEO

Tobi Lutke says the request feels like overreach OTTAWA — Shopify Inc. will challenge a request from the Canada Revenue Agency to turn over six years of records for Canadian stores using the firm’s software. We apologize, b...